China’s national statistics office released figures that showed the country’s gross domestic product (GDP) increased 5.2% year over year in the first three quarters of 2023.
Preliminary data indicates that China’s GDP for the first three quarters of 2023 was 91.302 trillion yuan ($12.5 trillion), representing an annual growth rate of 5.2%.
The official forecast is that China’s GDP will expand by about 5% in 2023. At that, experts are more positive about the nation’s economic growth.
With multiple regional coronavirus outbreaks and an unsettling global environment, China’s GDP expanded by 3% at the end of 2022 compared to 2021, less than the official estimate of roughly 5.5%. The GDP was valued at $17.95 trillion, or 121.02 trillion yuan.
source: reuters.com
